India Magnesium Alloys Market Size & Outlook, 2019-2027
India magnesium alloys market, 2016-2027 (US$M)
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India magnesium alloys market highlights
- The India magnesium alloys market generated a revenue of USD 146.6 million in 2019 and is expected to reach USD 218.6 million by 2027.
- The India market is expected to grow at a CAGR of 5.1% from 2020 to 2027.
- In terms of segment, automotive & transportation was the largest revenue generating application in 2019.
- Automotive & Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
Magnesium alloys market data book summary
| Market revenue in 2019 | USD 146.6 million |
| Market revenue in 2027 | USD 218.6 million |
| Growth rate | 5.1% (CAGR from 2019 to 2027) |
| Largest segment | Automotive & transportation |
| Fastest growing segment | Automotive & Transportation |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive & Transportation, Aerospace & Defense, Electronics, Other Applications |
| Key market players worldwide | Nanjing Yunhai Special Metals, Ferroglobe PLC |
Other key industry trends
- In terms of revenue, India accounted for 4.7% of the global magnesium alloys market in 2019.
- Country-wise, China is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, China magnesium alloys market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 218.6 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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India magnesium alloys market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to magnesium alloys market will help companies and investors design strategic landscapes.
Automotive & transportation was the largest segment with a revenue share of 59.41% in 2019. Horizon Databook has segmented the India magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
The Indian automotive production industry has witnessed rapid growth over the past few years. In 2019, the country produced almost 30.9 million vehicles as compared to 29.1 million units in 2018, registering a healthy growth of 6.26%.
Furthermore, the country is expected to emerge as an automotive export hub with major automotive companies such as Maruti Suzuki, Hyundai, and Tata Motors exporting their products to the Middle East & Africa market.
The automotive industry is progressively adopting magnesium alloys in various applications due to their durability and lightness. Thus, the growth of automotive production in India is expected to have a positive impact on the demand for magnesium alloys over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the India magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into India magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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India magnesium alloys market size, by application, 2016-2027 (US$M)
India Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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